U.K. Fraud Increases 50% to $3.25 Billion, Accounting Firm Says
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Publicly reported fraud in the U.K. last year rose to 2.1 billion pounds ($3.25 billion), a 50 percent increase from 2010, accounting firm BDO LLP said.
Tax crimes accounted for the highest percentage of the total value of fraud, with an average of 13 million pounds a case, BDO said in a statement. The firm also saw “a boom” in fraud in the retail sector, and a decrease in the value of cases in the financial and insurance industries.